CBRE Global Investors today announced it has acquired Logis Valley Ansan, a modern logistics warehouse located in Ansan City, Gyeonggi-do, South Korea, from local developer Sunkyung E&C.
CBRE Global Investors acquired the property through a dedicated fund vehicle. The seven-floor logistics facility, with a total gross floor area of 239,000 square meters (2.6 million square feet) located on 56,000 square meters (603,000 square feet) of land, is expected to be completed in July 2019.
The first six floors are equipped with ramps allowing container truck access, while the top floor will be used for tenant offices, a canteen, a convenience store, a relaxation space and other tenant-supporting space. Due to mezzanine floor facilities added by the tenants, the total usable area for occupation will be 365,000 square meters (3.93 million square feet), which represents the largest usable area for a single-property logistics facility in Korea.
Logis Valley Ansan has
